Teekay Offshore Contemplates Norwegian Bond Issuance

HAMILTON, BERMUDA, Nov 09, 2010 (MARKETWIRE via COMTEX) -- Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) /quotes/comstock/13*!too/quotes/nls/too (TOO 28.22, +0.46, +1.66%) announces that it intends to issue 500-700 million NOK in new senior unsecured bonds in the Norwegian bond market that mature in November 2013 which, at current conversion rates, have an aggregate principal amount equivalent to approximately USD 85-120 million. The proceeds of the bonds are expected to be used for general partnership purposes including repayment of existing credit facility debt. Teekay Offshore expects to apply for listing of the bond on the Oslo Stock Exchange. 
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Source: Marketwatch